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The AICPA Has Proposed Changes to the Clarified Statements on Standards

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Essay

The AICPA has proposed changes to the clarified Statements on Standards for Attestation Agreements. Summarize, if approved, what several of the proposed changes would be effective for reports dated on or after May 1, 2020.


Definitions:

Less Smoking

A trend or effort towards reducing the number of cigarettes consumed or quitting smoking altogether.

Big Five Domains

Refers to the five key categories or dimensions used to describe human personality in the Big Five model: openness to experience, conscientiousness, extraversion, agreeableness, and neuroticism.

Big Six

Often refers to a model in personality psychology that expands on the traditional Big Five personality traits by including a sixth trait, often Honesty-Humility.

Honesty-Humility

Honesty-Humility is a dimension of personality in some models, emphasizing traits related to sincerity, fairness, greed avoidance, and modesty.

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